A day after the Senate rejected Obama's preferred tax plan the Republicans are closing in on a deal to temporarily extend the Bush tax cuts for all income levels. The Democrats preferred plan would have only extended tax cuts for those who are categorized as middle class.
Now a compromise must be reached. The republicans are willing to give long term cuts for the unemployed if the Democrats agree to keep tax cuts for high earners for at least two more years.
Congress is trying to seal a deal soon so they can move on to another long list of priorities to finish before new members come in - such as "don't ask don't tell" and the New Start arms treaty with Russia.
No comments:
Post a Comment